Gold Rallies Above $1230 on Softer U.S. Dollar

Gold held firm on Monday, retaining gains from the previous session, as disappointing U.S. economic data hurt the dollar and bolstered the safe-haven appeal of the metal.

Spot gold edged up 0.1 percent to $1,230.46 an ounce by 0039 GMT, after gaining 0.6 percent in the previous session.

The dollar slid on Friday as data showed U.S. consumer sentiment unexpectedly fell in February from an 11-year high amid worries over slowing economic growth.


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